Zscaler, Inc. (NASDAQ:ZS) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its position in Zscaler, Inc. (NASDAQ:ZS) by 33.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 33,596 shares of the company’s stock after selling 16,991 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Zscaler were worth $6,457,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ZS. Jones Financial Companies Lllp acquired a new stake in shares of Zscaler in the fourth quarter valued at about $29,000. Quest Partners LLC acquired a new stake in shares of Zscaler in the second quarter valued at about $28,000. Quadrant Capital Group LLC lifted its stake in shares of Zscaler by 66.7% in the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after purchasing an additional 70 shares during the period. Asset Dedication LLC lifted its stake in shares of Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares during the period. Finally, American Capital Advisory LLC acquired a new stake in shares of Zscaler in the second quarter valued at about $50,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insider Transactions at Zscaler

In other news, CFO Remo Canessa sold 4,689 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $180.93, for a total transaction of $848,380.77. Following the transaction, the chief financial officer now directly owns 251,467 shares of the company’s stock, valued at $45,497,924.31. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 19.20% of the company’s stock.

Zscaler Trading Up 2.0 %

Shares of ZS stock opened at $170.06 on Monday. The stock has a market cap of $25.70 billion, a price-to-earnings ratio of -333.45 and a beta of 0.82. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. Zscaler, Inc. has a fifty-two week low of $146.59 and a fifty-two week high of $259.61. The firm’s 50 day moving average price is $184.05 and its two-hundred day moving average price is $184.44.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.75%. Zscaler’s revenue was up 30.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.17) earnings per share. On average, analysts anticipate that Zscaler, Inc. will post -0.92 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on ZS. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price objective on shares of Zscaler in a research note on Wednesday, September 4th. Robert W. Baird cut their target price on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Sanford C. Bernstein cut their target price on shares of Zscaler from $280.00 to $270.00 and set an “outperform” rating for the company in a research report on Friday, May 31st. Rosenblatt Securities restated a “neutral” rating and set a $190.00 target price on shares of Zscaler in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. cut their target price on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $218.39.

About Zscaler

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.